Proficio Capital Partners LLC Takes Position in HCI Group, Inc. (NYSE:HCI)

Proficio Capital Partners LLC purchased a new position in HCI Group, Inc. (NYSE:HCI) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,653 shares of the insurance provider’s stock, valued at approximately $1,358,000.

Other large investors also recently modified their holdings of the company. Victory Capital Management Inc. lifted its stake in HCI Group by 152.7% in the 3rd quarter. Victory Capital Management Inc. now owns 22,234 shares of the insurance provider’s stock worth $2,380,000 after purchasing an additional 13,434 shares in the last quarter. Oppenheimer & Co. Inc. bought a new position in shares of HCI Group in the third quarter worth $370,000. Royce & Associates LP purchased a new stake in shares of HCI Group in the third quarter worth $621,000. Thrivent Financial for Lutherans boosted its stake in HCI Group by 8.9% during the third quarter. Thrivent Financial for Lutherans now owns 6,629 shares of the insurance provider’s stock valued at $710,000 after buying an additional 541 shares during the period. Finally, Segall Bryant & Hamill LLC purchased a new position in HCI Group during the third quarter worth about $1,767,000. 86.99% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Truist Financial reaffirmed a “buy” rating and issued a $145.00 price target on shares of HCI Group in a report on Tuesday, December 17th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, HCI Group currently has an average rating of “Moderate Buy” and an average target price of $140.00.

HCI Group Stock Performance

NYSE HCI opened at $137.47 on Friday. HCI Group, Inc. has a 52-week low of $83.65 and a 52-week high of $141.21. The company has a fifty day moving average of $125.48 and a 200-day moving average of $116.24. The company has a market capitalization of $1.48 billion, a P/E ratio of 11.48 and a beta of 1.14. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.47 and a current ratio of 0.47.

HCI Group (NYSE:HCI) last posted its quarterly earnings data on Thursday, February 27th. The insurance provider reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.75) by $3.06. The firm had revenue of $161.88 million during the quarter, compared to analysts’ expectations of $175.11 million. HCI Group had a return on equity of 34.17% and a net margin of 19.37%. As a group, equities research analysts predict that HCI Group, Inc. will post 6.78 EPS for the current fiscal year.

HCI Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, February 21st will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date is Friday, February 21st. HCI Group’s payout ratio is currently 18.18%.

HCI Group Profile

HCI Group, Inc, together with its subsidiaries, engages in the property and casualty insurance, insurance management, reinsurance, real estate, and information technology businesses in Florida. It provides residential insurance products, such as homeowners, fire, flood, and wind-only insurance to homeowners, condominium owners, and tenants for properties, as well as offers reinsurance programs.